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 Bank of America to charge $5/month for debit cards...

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Chief Executive
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Location : Slumber, Inc.

PostSubject: Bank of America to charge $5/month for debit cards...   Fri Sep 30, 2011 4:43 am

http://www.cbsnews.com/stories/2011/09/29/ap/business/main20113421.shtml

Quote :
(AP) NEW YORK — Bank of America plans to start charging customers a $5 monthly debit card fee.

The fee will be rolled out starting early next year.

A Bank of America Corp. spokeswoman says customers will only be charged the fee if they use their debit cards for purchases in any given month. Customers won't be charged if they only use their cards at an ATM.

Chase and Wells Fargo have been testing $3 monthly debit card fees in select markets. Neither bank has said when it will make a final decision on whether to make the fee permanent.

Customers have been seeing higher banking fees and fewer rewards in the past year or so. The changes come as banks adjust to new regulations that will limit traditional revenue sources.

Not that it's a huge fee, but it's $5 I don't want to be tossing away each month.

I have the feeling that I'll inevitably get mugged, which is why I tend to use my card where ever I go. laugh
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Prince Kamal Khan
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PostSubject: Re: Bank of America to charge $5/month for debit cards...   Fri Sep 30, 2011 11:13 am

BOA's a gang of crooks.
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j7wild
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PostSubject: Re: Bank of America to charge $5/month for debit cards...   Fri Sep 30, 2011 2:16 pm

I am with Wells Fargo and starting this September 12th, they charge $7 a month ACCOUNT MAINTENANCE fee on my checking account if my Daily Balance in any one month period falls below $1,500!!

MAINTENANCE?

What's there to maintain?
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